New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-09
-,-y7rsTMENTS IN NETWORK.
D,uwAY AND GAS COMPANIES.

1he'' those represented by undertakings that are
~ furnish articles of prime necessity as water
ens or the means Of transportation 10 Tue poPuia-
so" Great cities The continuous supply oi Puonc
"o sms TO carry with 1t kind OF guarantee OF rvs
wan. prdge aud ferry companies railroads eevatei'
I'.os or underground; water steam anu gas COM
snf rs multiplied in commercial centres until IL
papes IN the initiated that large part OF the cap
vou'' s.s,ed must he sunk beyond recovery But the
rs =, these properties know to the contrary Rail-
,ongh the country may fall TO meet their interest
foS and be foreclosed mines may be worked out and
ene~,rn. manufacturing establishments wound up at
so bubbles may burst and patent rights expire or
oss' but the corporations that cater to the
prove Nils and uses of large cities default
initial snrn ample profits on actual Investment
Nowhere on Manhattan Island Here is centred city
hsneu ,nopuation has doubled four times w'thln the
EsO Of Sn v aHM than the entire State Of Massa
higher and which added in sing year to one OF It's
wards NOR rv whose streets arc studded with buildings
TloI which as population, villages OF themselves
occupied as oee Hacs With their desires and have come
tnFennt among the absolute necessares OF lie those
70 which previous generation esteemed as Iuxures
thlnss .ared only by the very rich.
mis- Unparalleled growth. destined to still moro
mncsrful expansion dunng the present century. that
oDe, a local Investments In New York City. For ex'
1e the surface railways occupying ABOUT no miles
thple could probably be constructed ana equipped
Of t moi TO exceed SIS 100000 They are represented
. he present time by loan and share capital OF
Sssee,0S0G0O Their net earnings in 1856 exceeded
900 or abont 100 per cent on what II would cost
tseoscs them. shortsighted holders of these secur
70 hastiy parted with them on the advent OF the Gle
, res roas which, 1t supposed would monopoze
We nasseuger traffic OF the streets The cost OF con-
VIC the elevated lines was S22 6s3253 IA, which
- now represented by loan and share capital or
~ o01 on which per cent dividends regularly
Scsred These roads carried during the year ending
ssptember 80. 1856, l6o,oOO,oOO passengers. an IN
Of 100000 over that OF the previous year Ana
railr
!yemuu and earnings from this traffic have continued
increase from year to year In spite OF overhead co
90 in cities where the water supply is under the
.rrol of private enterprise, the capta invested has
ben secure OF large returns. In fact there Is no
,,ance on record where this class OF security mas eu
Is st ali its liabilities whether principal or interest
When one comes to the manufacture and supply OF gas
rnSer the same conditions the Facts are sun more stI
ng According to the latest ssts,cs on ms a. eva
Canada made in the year 1885 In round numbers 3oooo
million cubic feet OF gas TINS ,0st ne gas an
these countries about 20 ooV'oVV I'LL" i0PieSoN'0 "
outlay Of over 1901 100000. 900 ,.,,, ers,
hsgan TO be introduced for lighting purposes III ~as
every where prophesied that the new umiSah' wou
drive the old The panic Gsi 10 Dcs "p r ,us
greatly deprecated prices The result lu shn
happened just as In the case Sse OF the the
light Is most extensively used tue consumption % gas
has continued 10 increase hey the average 81
moe light New uses have been found Tor tue oid
luninant It's cost has been seady reduced ana .ne
gum nerated 70 enhance the value of such securities
and encourage further Investment IN Gompee charged
NTH the investigation of the Newly York City gas com
Pne in lisa are worthy o reReSnes the Companies
donr business on Manhattan Island from "a To $50
81 OF this s%SS7t 4f5:z The
ecmpamfs produced during y, the mi. y nror
d SsS here were 1852 2o5 feet lost by leakage
through the mains and connections, for which no con
Pe Tss ASH iss sos feet sold returned them
so469 533 06 OF which Si.S6o9l7 81 waS net income
a9d Applicable In the d l9 % Se
cost Of gas that year was shown 10 DC - PEI
supply on Manhattan Island has been increased from
900 to S43 $4,000. About five millions of this
beran business in 1884 and Is sributing about
800 million feet a year The amount OF gas mai1iac-
feet and the reduction in the selling price has been ac
compane by reduction in the cost owing TO improved
fore tLat the city OF New York at the present time
furnishes about 0nesxth OF the capital ana gas output
OF Canada and the United states combined III otner
Words thousand gas companies In these c1.n
tries do only six times the business that Is done by ee
gas companies Manhattan Island. 80
II NAV I've that the nominal capital OF some OF the
city companies is of proportion to actual investment
no, command The premium to-day that they did 1888
But there is certainly nothing IN tue preson,
Is has been shown the output OF gas in New forE
CITY increased from 1879 10 1854 al an sVeiaee OF /.
fihero carried on subject constant and serious loss
by Leakage As written of the companies books unaei
inc n xears TO O64 cubic feet average
OF 81 per cent of the entire gross production ,,
This il a waste OF uncOnsuned material WHICH, "sIue
,o i,s ser,ons effects upon the public health no mann
featuring enterprise should be called upon 10 eIure
ana yet it cannot be avoided under the p,e7en
distribution with cast iron pipes ana their hoc'eo'
connections. . ~,
Fortunately the remedy Is already being applied The
demands of the natural gas industry have stimulated
nine manufacturers 10 make great Improvements III ttr
product Their mills now turn out wrought iron pipes
nj Increased length strength and diameter, ntied win
screw threads aud tested against leakage under hfh
pressures This works revolution III the udDsloi "a
iion and distribution of gas and viii TO The In
dnstry what the Introduction OF the steel rail- has proved
10 the railroads Pipes can now DO useu Undt uite
pressure made made TO deliver gas III any quantity
Ii suit file demand BY system Of regulators applied
at the meter the can be hd]hstcn 10 meet t'
wis of the smallest consumer. Aside from Its
,conoc mpornce this departure will prove OF great
value in extending the use OF gas Tor iue purposes e
nav he necessary TO utilize al the heat units Of the gas
under consumption while by the adoption OF mprov ed
burners consumer is protected against waste o TIC
same product When used as an illum. naht At, ,,o,
The extension of the gas supply mo tht nf y! NJ.
and newer has hitherto never been Systematically
sfIenptr outside OF the natural gas regions success
ms direction in large cities holds out the certainly OF
profit 10 the manufacturer and corresponding benefit 10
he consumer There are appliances at hand WIN whch
the ordinary domestic cooking range can NC ''S, "
burn gas with perfect safety ana convenience, VIZ.
topsumuton OF from fifteen to twenty feet OF gas an
hour the cooking Of large family eau be zone anH a
the annoyance and waste OF the coal s,ose enufey e
and manufacturing establishments OF al kinds rom te
Ieweer to the carriage maker. gas VIII rahnY super
Iede coal il the companies supplying " adop I!DeIa
and progressive policy III deulhg ".n .neiI s ~,
The substitution OF gas engines for steam engines Ioi
pumping water the upper floors OF houses Is iar
factor in the consumption OF gas IN foreign ctlcS
whole field has remained practically untouched III lhi,
country hitherto owing to the high charge fOi gas am
the lack OF proper appliances AT the present time win
the charge reduced to the nrgbOrhOod OF one doa per
thousand feet, gas will undoubtedly prove
competitor OF coal al - ton. .,o. .,.o
The company which has undertaken 10 Introduce tnec
modern methods and apparatus - the Manufacture Iis
trbuton and consumption OF gas vas Organized IN
under the general law, and received from the Sate
perpetual charter under act entitled An AcI 20 e,
facilitate the supply OF illuminating gas IN the cry VI
New-iork at q reasonable price. Under thls statue
the company made application to the Departihen, VI
fubic Works for the necessary permits 10 open tno
streets: The Commissioner referred the matter 10 he
counsel OF tie Corporation. Mr. f. Henry LacOmDc VINO
rendered the following opinion:
Inc statute 70 which you refer me authorizes ana EN-
foMeis ,ne standard Gaslght Company 10 lay cohnuc
ds anu mains Tor conducting gas through ana undeI an
% sres, avenues squares and public places OF ms
ry ihs nghtt was within the power OF the Leglsat.
unon the coin,anv he passage OF tnc ncop
mains. therefore, advise you that II 10 yonr duty,
IN fort "a